Gibraltar Industries, Inc. (NASDAQ:ROCK) Short Interest Up 23.6% in October

Gibraltar Industries, Inc. (NASDAQ:ROCK) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 497,300 shares, a growth of 23.6% from the October 15th total of 402,200 shares. Based on an average daily volume of 181,500 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.7% of the shares of the stock are short sold.

Gibraltar Industries Stock Down 1.9 %

NASDAQ ROCK traded down $1.35 on Friday, reaching $70.66. The company had a trading volume of 100,015 shares, compared to its average volume of 171,138. The stock has a market capitalization of $2.14 billion, a PE ratio of 19.63 and a beta of 1.14. Gibraltar Industries has a 12 month low of $61.92 and a 12 month high of $87.40. The firm’s 50 day moving average price is $69.19 and its 200 day moving average price is $70.26.

Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Wednesday, October 30th. The construction company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. The company had revenue of $361.20 million for the quarter, compared to the consensus estimate of $360.43 million. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 earnings per share. On average, research analysts expect that Gibraltar Industries will post 4.18 EPS for the current year.

Institutional Investors Weigh In On Gibraltar Industries

A number of hedge funds have recently bought and sold shares of ROCK. Farther Finance Advisors LLC increased its holdings in shares of Gibraltar Industries by 271.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock worth $27,000 after buying an additional 277 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Gibraltar Industries in the 2nd quarter worth approximately $39,000. GAMMA Investing LLC increased its position in shares of Gibraltar Industries by 30.6% during the 3rd quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock valued at $51,000 after purchasing an additional 170 shares during the last quarter. nVerses Capital LLC purchased a new stake in Gibraltar Industries during the 2nd quarter valued at $55,000. Finally, Quarry LP lifted its position in Gibraltar Industries by 428.9% in the second quarter. Quarry LP now owns 989 shares of the construction company’s stock worth $68,000 after buying an additional 802 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd.

Gibraltar Industries Company Profile

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.